Mon, 17 Oct 2016 12:52:52 +0000 GOVERNMENT must take advantage of the loans with 3 percent interest rates currently being offered by the Export-Import Bank (Eximbank) of China to finance socio-economic sectors, instead of using more expensive and restrictive finances, says Private Sector Development Association (PSDA). PSDA chairperson Yusuf Dodia said unlike going for Eurobonds which had high interest rates of about 7 percent, the rates from Eximbank were much lower. Mr Dodia said loans from the bank had a longer maturity period of between 15 and 20 years as compared to Eurobonds which could not go beyond 10 years. “The current international bonds being issued by Zambia will demand the yield rate above 7 percent, meaning that we will have to pay 7 percent for those bonds and they are likely to be 10-year bonds and not more than 10 years old which means that we will have to pay them back. “But from the Eximbank of […]
